The Panvel police arrested four people, including a suspended postmaster, involved in the preparation of fake savings schemes certificates of the Indian Postal department. The police seized Kisan Vikas Patra (KVP) and National Savings Certificate (NSC) from their possession. The racketeers have forged documents worth Rs 6 crore and had also succeeded in mortgaging some certificates to get loans from banks, a police official said.

According to police, assistant police inspector Rahul Sonawane received a tip-off that some people, who are involved in the preparation of fake savings certificates and mortgaging them in banks to get loans, will visit a private bank in Panvel. Acting on the tip-off, cops laid a trap and nabbed two of the accused when they arrived at the bank to deposit the certificate on January 20.